The ZX Spectrum +3 looked similar to the +2 but featured a built-in 3-inch floppy disk drive (like the Amstrad CPC 6128) instead of the tape drive, and was in a black case. It was launched in 1987, initially retailed for £249 and then later £199 and was the only Spectrum capable of running the CP/M operating system without additional hardware.

The +3 saw the addition of two more 16 KB ROMs. One was home to the second part of the reorganised 128 ROM and the other hosted the +3's disk operating system. This was a modified version of Amstrad's AMSDOS, called +3DOS. These two new 16 KB ROMs and the original two 16 KB ROMs were now physically implemented together as two 32 KB chips. To be able to run CP/M, which requires RAM at the bottom of the address space, the bank-switching was further improved, allowing the ROM to be paged out for another 16 KB of RAM.